Hersha Hospitality Trust (HT) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in shares of Hersha Hospitality Trust (NYSE:HT) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 3,399,335 shares of the real estate investment trust’s stock after selling 69,849 shares during the quarter. Jennison Associates LLC owned 0.09% of Hersha Hospitality Trust worth $59,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in Hersha Hospitality Trust in the fourth quarter worth $1,158,000. LSV Asset Management boosted its holdings in Hersha Hospitality Trust by 24.5% in the fourth quarter. LSV Asset Management now owns 1,080,300 shares of the real estate investment trust’s stock worth $18,948,000 after acquiring an additional 212,812 shares in the last quarter. Rhumbline Advisers boosted its holdings in Hersha Hospitality Trust by 21.4% in the fourth quarter. Rhumbline Advisers now owns 111,704 shares of the real estate investment trust’s stock worth $1,959,000 after acquiring an additional 19,688 shares in the last quarter. Arizona State Retirement System boosted its holdings in Hersha Hospitality Trust by 6.3% in the fourth quarter. Arizona State Retirement System now owns 55,856 shares of the real estate investment trust’s stock worth $980,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new stake in Hersha Hospitality Trust in the fourth quarter worth $131,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

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In other Hersha Hospitality Trust news, insider Neil H. Shah purchased 3,000 shares of the stock in a transaction dated Friday, December 21st. The shares were purchased at an average cost of $16.84 per share, with a total value of $50,520.00. Following the completion of the acquisition, the insider now directly owns 326,752 shares in the company, valued at approximately $5,502,503.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas J. Hutchison III sold 10,000 shares of the stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $16.94, for a total value of $169,400.00. Following the completion of the transaction, the director now directly owns 75,510 shares in the company, valued at approximately $1,279,139.40. The disclosure for this sale can be found here. Corporate insiders own 10.30% of the company’s stock.

Shares of NYSE:HT opened at $18.64 on Tuesday. The firm has a market cap of $734.86 million, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.43. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.45 and a current ratio of 0.45. Hersha Hospitality Trust has a 1 year low of $16.50 and a 1 year high of $24.16.

HT has been the topic of several analyst reports. Robert W. Baird set a $20.00 target price on Hersha Hospitality Trust and gave the stock a “hold” rating in a report on Thursday, October 25th. B. Riley set a $19.00 target price on Hersha Hospitality Trust and gave the stock a “hold” rating in a report on Thursday, October 25th. Zacks Investment Research raised Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, January 11th. Raymond James downgraded Hersha Hospitality Trust from a “mkt perform” rating to an “underperform” rating in a report on Tuesday, January 8th. Finally, ValuEngine raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.42.

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About Hersha Hospitality Trust

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,730 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.